$1,200,000
$1,400,000
14.3%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
8 Baths
5,408 SqFt
SOLD DATE : 07/27/2023
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,408 sqft
Price per Sqft $221
Subdivision Pasadena Terrace
MLS Listing ID U8196897
Sold Date 07/27/23
Bedrooms 10
HOA Y/N No
Originating Board Stellar MLS
Year Built 1966
Annual Tax Amount $11,098
Lot Size 0.440 Acres
Acres 0.44
Lot Dimensions 150x127
Property Description
This amazing 8 unit multifamily opportunity is located only a short walk from Central Avenue, giving tenants access to retail, restaurants and nightlife such as Dead Bob's, The Blend, Starbucks, Earth Origins Market, Jane's Nursery, and more. It is also less than a ten minute drive to Treasure Island, and a couple blocks from St. Petersburg College's Gibbs Campus, attracting students, young professionals, and retirees as tenants.
Each unit has been meticulously maintained with renovated kitchens in 6 units, new vanities in all but two bathrooms, central A/C, new ceiling fans and junction boxes, new HVAC in units 3 & 4, and new roofs in 2018 and 2022. With two parking spots per unit and gravel landscaping, Buyers will have minimal exterior maintenance and expenses.
Finally, with mostly moth-to-month leases and below market rents, a Buyer can add value simply by increasing rental rates.
Investment highlights include:
•Turnkey Investment requires minimal monthly maintenance
• Below market rents and mostly month-to-month leases that can be terminated with 30 days' notice
allows Buyer to add value simply by increasing rental rates
• New roofs in 2018 and 2022
• Flood Zone X
• Large walk-in closets in each unit
• Extremely quiet neighborhood with the Pinellas Trail located within 200 feet of the property
• Renovated kitchens and new vanities in all but two units
• Terrazzo floors under carpet
• Central A/C with new HVAC unit in units 3&4
• New ceiling fans and junction boxes
• Located in Pasadena, one of the most desirable neighborhoods of St. Petersburg, the Property
gives tenants walking access to retail along Central Avenue including The Blend, Dead Bob's, Earth Origins Market, Starbucks, Jane's Tropical Nursery & Tropical, Walgreens, and more. The property also sits only a ten minute drive from St. Pete Beach and a few blocks away from St. Petersburg College's Gibbs Campus, attracting students, young professionals, and retirees alike.
Location
State FL
County Pinellas
Community Pasadena Terrace
Direction N
Interior
Interior Features Ceiling Fans(s)
Heating Central
Cooling Central Air
Fireplace false
Exterior
Exterior Feature Courtyard, Rain Gutters, Sidewalk
Utilities Available Other
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Concrete
New Construction false
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with THE MULTIFAMILY FIRM LLC
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